When comparing crypto projects, there is no definite best. Each currency, NFT and metaverse are unique: they all have unique features that tell them apart.
Recently, the OVR vs. Decentraland topic has been all the rage. The former is a metaverse built around our world, whereas the latter is an artificial platform. Although both show potential, Decentraland has a higher ranking in the market than OVR.
Nevertheless, such a ranking is not enough to declare a winner. Several variables make each of them better than the other in certain aspects.
The Main Differences Between OVR & Decentraland
The two platforms are metaverses focused on immersion, but how they immerse their users is intrinsically different.
OVR: A Tradable Virtual Reality
OVR is a fairly intuitive platform where 3D objects are inserted into the real world. This technology is augmented reality: a technique that enables apps to superimpose digital images into the real world’s view.
Regardless of how crazy this sounds, this idea is not unheard of. Pokémon GO, for instance, places Pokémon in what you’re seeing with your phone: OVR works the same way. However, the latter takes a step further.
In OVR, you can buy OVRLands and work on those lands to create 3D designs that everyone who has the OVR app can see. As a result, people can see what you’ve done in the properties you digitally own, not physically, which heightens the value of the lands.
These lands can be bought or sold at will and represent each part of the world. Consequently, the quantity of OVRLands available is almost limitless.
Decentraland: A Virtual Home
Decentraland is another metaverse that is, in nature, very different from OVR. Its platform is more focused on its own cyberspace than on the real world. In return, Decentraland has more creative outlets but less immersion.
To get into Decentraland, you create an avatar in its metaverse and explore its lands. Each land is owned by its users and is unique, which is why they are NFTs. Additionally, there are numerous activities and events you can do in those.
Since Decentraland has a set amount of land, just like The Sims series, there’s a limit as to how many NFTs there are.
This platform has been around for some years now, so it’s become one of the best metaverse projects ever. That popularity earns Decentraland a lot of influence on the metaverse market, in contrast to the minor impact OVR has.
OVR vs. MANA: Tokenomics
Both Decentraland and OVR reside in the Ethereum blockchain and own their token: MANA and OVR, respectively.
These coins diverge from each other. Whereas one is bound to skyrocket in due time, the other has more effective burning techniques. There’s no clear ruler between the two.
The Relationship Between NFTs & Coins
NFTs are unlike cryptocurrencies because they only represent a certain amount of assets. In OVR and Decentreland, lands are 3D NFTs and can only be bought using specific coins.
These NFTs can only work on their respective platforms. For that reason, each metaverse has its own currency, MANA and OVR, to give value to their NFTs. In turn, a self-sustaining chain is born.
People set how much an NFT is worth, the NFT affects its coin price, and the coin’s utility has an effect on how investors perceive the NFT. Despite the fact that a person can own MANA or OVR, the value of those will always depend on the NFTs they represent.
Lastly, it’s worth mentioning that these NFTs can only be created by 3D rendering. These tokens are dissimilar to traditional NFTs: they are 3D objects placed inside a metaverse. Ergo, the process of creating and modifying an NFT is more sophisticated.
OVR
OVR, although redundant, is the token available in OVR to buy OVRLands. Its worth leans on Ethereum’s success and how people value the lands inside the metaverse.
Due to OVR having the whole world as an asset, its lands cannot be fully estimated. Therefore, the amount of OVRLands running is far too many.
To have a large sum of tokens available means to have low market capitalization. In simpler terms: the OVR coin’s value won’t shoot up because its demand doesn’t live up to its offer. Nevertheless, OVR does have a method to measure this setback.
Nowadays, cryptocurrencies pay a lot of attention to their ecosystems. Their developers came up with several techniques to preserve their demand and offer in a healthier fashion; one of those is cryptocurrency burning.
A burning system eliminates currencies or tokens circulating for each transaction made. Every time OVRs move, its code ‘burns’ a percentage of the currency, which is not taken from the transaction itself.
Overall, OVRs are not meant to have an overnight increase in their value, but their price will go up by the day. Not only that, but the designs attached to each land influence each NFT’s worth.
MANA
MANA is the token with which you can buy lands on Decentraland. Just like OVR, its value heavily relies on Ethereum, the blockchain it works on, and the quality of each land.
Contrary to OVR, MANA, the token used in Decentraland, has a limited supply. As a consequence, this currency won’t ever face inflation.
Nonetheless, MANA doesn’t run a burning system as OVR does. It used to be the case in the past, but not anymore. For every transaction made with the token, part of it doesn’t circulate anymore and is instead transferred to Decentraland’s liquidity pool.
This means that MANA’s growth in value will be slower at the cost of having more money to further develop the platform. Thanks to how much Decentraland started lagging behind other projects, this sudden change arose.
Since this metaverse is somewhat old, it’s become like the Bitcoin of the metaverse market. It won’t debunk any time soon, but it won’t boom either.
MANA is, in conclusion, a very stable project for those who go for the long run. It’s only likely to fall short if Decentraland doesn’t up its game eventually, as other projects will overrun it.
OVR vs. Decentraland. What Should I Go For?
By no means is this a recommendation on what to buy and what to avoid. Both projects show promise, but they are inherently different. Rather than focusing on the OVR vs. Decentraland argument, shift your attention to which fits your needs better.
Decentraland is based on a community-driven experience, whereas OVR focuses on an unseen merging between reality and NFTs. These metaverses have different goals, and their economies are poles apart.
OVR is a project with much more promise than Decentraland, but the latter is far more stable and can grow exponentially if handled properly. Whether one seeks stability or volatility, both metaverses are acceptable options.
The future of NFTs hangs on these projects. Seeing as they are both home to revolutionary ideas, such as NFT architecture, they’re bound to grow.
